Box Knife Sharpening in India: An Entrepreneurial Business Plan

This business plan outlines the entrepreneurial project of Box Knife Sharpening in India, focusing on providing high-speed steel (HSS) knives and maintenance services to restaurants. The plan identifies the problem of unhygienic, rusted knives in Indian restaurants and presents HSS knives as a viable solution. It details the technology proposed for online sales and order fulfillment, the business model involving direct sales to consumers and restaurants, and future expansion into kitchen modernization. The market analysis includes target customer bases for one, three, and five-year periods, along with a competitor analysis. The plan also addresses intellectual property considerations and funding strategies, including crowdfunding and venture capitalists. Financial projections, management skills required, and recommendations for success are also provided. The conclusion emphasizes the viability of the business idea and its potential to improve hygiene standards in Indian restaurants. Desklib provides access to this and similar assignments for students.

Box Knife
Sharpening's in
India
Name of the Student

Summary
– The given business entrepreneurial project plan has been designed to ensure that
the organization as a whole is able to engage in long term success and that a firm
is able to engage in an opportunity which is very unique.
– Objectives
– To analyze the chosen Indian market
– To analyze the different strategies
– To project the future income of the firm
– To present the overall sales and other plans

Problem and Opportunity Landscape
– The Indian restaurants often make use of the rusted knives.
– This leads to food poisoning for the different customers.
– As the different number of Indian restaurants in India have been increasing, the
businesses sees this as an opportunity and will provide low cost HSS knives to
the customers.
– It will also sell other kitchen items for the different restaurants and maintain with
respect to the same.

Problem that the venture seeks to
solve
– The major share of the restaurants as present in the country make use of knives
which are rusted and may lead to the poisoning of the people who generally eat
the food
– Moreover, hygiene is not well maintained and hence, the Box Knife
Sharpening's aims to provide HSS knives to these restaurants for just a cost of
Rs. 20
– The HSS knives also known as the High Speed Steel knives are made by the
traditional knife sharpening and manufacturing procedure are maintained in a
similar manner.

Existing solutions
– Auditing of the senior management
– Food and hygiene department
– Use of disposable knives and tools
– However, these solutions are not viable and the HSS knives are the best
alternative.

Idea for technology proposed
– The steps to be followed:
– A particular shopper will visit the website and the website.
– The customer will be able to add the products in the cart and then create an account. Once
the checkout has been done, the website then becomes a lock symbol making use of an
SSL certificate.
– When the checkout will be done then, the Box Knife Company will contact the third party
software
– The customer would be required to make payment to the website using either credit cards,
net banking, debit cards or the method of cash on delivery.
– In this manner, the company will be able to complete the order of the customer.

Business model
– The highlight of the business model can be stated to be as follows:
– The website will sell directly to the consumers
– It will sell directly to the restaurant owners as well.
– It will ensure that there is a maintenance of the knives as well.
– Moreover, later on the business will also get into the segment of modernization
of the kitchen and other related services.

Market Analysis

One year customer base
In the first year, the Box Knife firm aims to target all the large restaurants as present.
In this manner, the company will be able to ensure that, these restaurants subscribe to
the maintenance service of the HSS service knives which will be made available to
the different restaurants.
Three year customer base
In the three year time frame, the firm aims to target the general households as well.
As the firm aims to ensure that it is able to expand its operations successfully and
cater to the needs of the different individuals as well
Five year customer base
In the time period of five years, Box knife sharpening has an aim to get into the
business of modifying the different kitchens as well.

Competitor Analysis
– The competitors of the firm are as follows:
Direct e-commerce website competitors:
– Flipkart
– Amazon
– Snap deal
Indirect competitors (Local retailers)
– Hariom Equipment’s
– Akhand Jyoti Engineers
– JR Equipment’s
– Veera Kitchen Point
– Fore Tech Kitchen Equipment’s.
Knife Sharpening
Process
Grinding Steeling Stropping

IP/ Patent
– In order to carry out any business successfully, it can be taken to be critical for a
business to have the right amount of patents as well as the intellectual property
rights which then allow them to operate well and to be successful in their overall
operations of the firm.
– Hence, with respect to this, the organization, is a strong believer in this
philosophy and for this reason in India, they may not be required to undertake a
patent protection for the particular business kind.

Funding
Funding for
the business
Crowd
funding
Venture
Capitalists

Financial
Analysis
– Certain financial projections are as
follows:
– Total liabilities including equity of
owners in the first year:
$4,210,000
– Total assets of the company in the
first year: $4,670,111
– Break even sales: $1,805,889.00
– Cumulative income for the first
year: $24,460,060

Management and Functional skills
– Functional skills:
– Financial management
– Marketing, sales and customer service
– Networking
Management skills:
– Planning
– Communication
– Decision making Delegation
– Problem Solving
– Motivation

Conclusion
– The business idea which has been presented in the given case study can be stated
to be that of developing an organization which caters to the needs of the different
individuals who are regular guests at the different restaurants and like to eat out.
– It was discussed that although there are several ideas as well as the opportunities
available for the different Restaurants to maintain the hygiene levels of the
different restaurants and to ensure that, it is successfully able to attain success in
the long run
– The business idea is quite viable in nature which would help the firm in attaining
success.

Recommendations
1. Analyzing the financial statements and making use of considerable
financial instruments
2. Maintaining Due diligence
3. Information flow
4. Box knifings will hire right people
5. Keep an eye on the market

References and Bibliography
– Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
– Kirzner, I.M., 2015. Competition and entrepreneurship. University of Chicago press.
– Kuratko, D.F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
– Parker, S.C., 2018. The economics of entrepreneurship. Cambridge University Press.
– Thehindubusinessline.com 2018. India as an investment market [online]. Available at:
https://www.thehindubusinessline.com/economy/india-4th-most-attractive-investment-mark
et-pwc-survey/article26058293.ece
(Accessed on: 31 Jan. 2019).

Thank you